Bitcoin and altcoins' prices have fallen on Sunday. Is this a bear trap?
Looking at the prices of my coins today, I can see that almost all of them are red, as you can see from the picture below. Only DigixDAO had gains in the last 24 hours. However, this is the trend I have noticed with DigixDAO, that when every other altcoin is getting killed, DigixDAO gains since it is backed by gold.
Even during the last hour, all altcoins have lost their value relative to Bitcoin except Ethereum.
Now, what is causing this sudden fall in prices. Well, I didn't hear any special news besides that recently one anonymous trader bought $400 millions worth of Bitcoin [1]. This could have perhaps artificially boosted up the Bitcoin price, and therefore now we could just be seeing a correction.
What do you guys think could be the reason for the fall in prices? Do you also think that this is a bear trap? I would love to read your opinions.
References
[1].https://www.investopedia.com/news/anonymous-cryptocurrency-enthusiast-bought-400-million-bitcoin/
Its normal, and a healthy "retrace". BTC goes to 12k$ sooner than later!
Bitcoin has had higher lows the past few days. I wouldn't even call it a retrace. It can't always be at it's high point for the day.
but now it is have chance to invest btc
I feel that this drop is not anything substantial and just a minor correction. I feel by the end of February there will be some consistent bullish behaviour by both Bitcoin and altcoins. Great post by the way!
yes you are right its normally rates of btc
Maybe bitcoin will have enough buy power to go through the down trending line. But these are some key levels even marketcap wise for all the crypto.. If it fails to go above the downtreding line or find support when breaking the line everything could go down a little lower again..
During this period of market indecivesness. I just hold on BTC and LTC besides Steemit cryptos. Maybe once the alt season resumes, I'll start taking the risk again 😀
It doesn't look like bitcoin has fallen to me. According to Yahoo it is higher today than it was yesterday.
https://finance.yahoo.com/quote/BTC-USD/history?p=BTC-USD
Nothing is permanent be it drop or hike. So don't take it at heart.Stay cool.
Bitcoin and altcoins' prices have falle dont very is normaly up down
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